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ANZ Cuts Taiwan’s Growth

Australia and New Zealand Banking Group Ltd. has lowered its forecasts of Taiwan’s gross domestic product growth for 2015 and 2016 by taking a weaker-than-expected export performance into account, Focus Taiwan reported. ANZ has trimmed its estimate for Taiwan’s GDP growth for 2015 to 1.30% from an earlier forecast of a 1.94% made in July, while also significantly downgrading its prediction of Taiwan’s GDP growth for 2016 to 2.04%, from 3.8%. The less optimistic forecast in Taiwan’s 2015 economic growth echoed a move made by Taiwan’s Directorate General of Budget, Accounting and Statistics in mid-August to lower Taiwan’s GDP growth to 1.56% from 3.28%.